What is Dash (DASH)
DASH is a form of digital cash with a high level of anonymity and transaction speed.
DASH was created in 2014 as a project of Evan Duffield, who used to work in a software development and financial areas before. When he became acquainted with cryptocurrencies he paid attention to their discussable issues and started to think about their improvement. Evan’s main wish was to overcome such system problems as the lack of anonymity and autonomy. He turned his dream into reality creating DASH and adding features that are impossible with Bitcoin. At first, the price of DASH coin was low. It was slowly changing from 2014 to 2016, but in December 2017 raised up to more than $1400.
Where can Dash be used?
With DASH you can do online shopping or buy a sandwich in Venezuelan Subway. As every cryptocurrency DASH is suitable for sending and receiving payments. The main ambition of this project is to become the most common means of payment and be used by people on a daily basis.
The apogee of glory
DASH became famous in countries which suffer difficulties with official banking system. In February 2019 Dash was the most popular cryptocurrency in Venezuela.
Pros and cons
The main advantages of DASH are the following:
Decentralization. DASH is based on a decentralized blockchain system. In fact this feature makes DASH the first successful digital currency project supervised by special algorithms. These algorithms are put into operation on different individual’s computer hardware. There is no central authority which controls users’ accounts, distribution or inflation rate.
Low transaction fees. Dash managed to reduce a commission till several cents. This fact makes it inexpensive and easier to deal with DASH.
High transaction speed. One of the indisputable advantages of DASH is an opportunity to make payment almost instantly. Dash is so fast that while it usually takes minutes to confirm a transaction, one can do it in seconds with DASH. The difference in speed is really impressive.
Anonymity. Dash gives a high level of anonymity to its users. Transactions in DASH are connected in a way that makes it impossible to trace them. They are not just stored on a blockchain, but also mixed. This special feature is controlled by Masternodes that makes the system more anonymous.
Although DASH presents its anonymity as a positive moment it may be seen as a drawback too. This freedom of actions can be easily used for criminal purposes. There is always an ethical question about it.
“Eventually, I believe Dash will position itself as a direct competitor to Bitcoin. In the meantime, Bitcoin enjoys a monopoly more or less on the space, which is unhealthy.” — Evan Duffield, founder of DASH.
- The DASH cryptocurrency has changed its name several times. Originally it was called Xcoin. Later a rebranding was made and Xcoin turned into Darkcoin. This name sounded very shady and created objectionable reputation for the company. The next version brought DASH to life.
- DASH might have never come up if Bitcoin developers had agreed to add some improvements for transactions anonymity in its code. At first, Evan Duffield who was a big fan of Bitcoin put a suggestion to Bitcoin Foundation but they didn’t want to change anything. He had to do nothing but use his ideas for the creation of his own DASH coin.
- There is a chance that you will be able to pay for a fried chicken with DASH soon. Antonio Sampayo, the CEO of KFC Venezuela, confirmed that KFC had discussed the possibility of running the test payment with DASH.
How to get DASH?
One of the best services to exchange your coins to DASH is StealthEX. It’s an anonymous and limitless cryptocurrency exchange with the top concern about users privacy.
✔ Choose the pair and the amount for your exchange. For example BTC to DASH.
✔ Press the “Start exchange” button.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Congratulations, you are the proud owner of DASH now!